Ride-sharing cars under scrutiny for surge pricingThe Land Transportation Franchising and Regulatory Board (LTFRB) is reviewing the regulation of the “surge pricing” schemes of transport network vehicles (TNVs) as holiday season looms. LTFRB chairman Martin Delgra III, in a press briefing Monday, said it plans to set a ceiling for the fares for transport network companies (TNCs) such as Grab, Uber, and U-Hop following the surge of complaints of overcharging in ride-sharing vehicles. MB.COM.PH MB File – Grab, UberMB.COM.PHSurge pricing, which the LTFRB had earlier permitted, refers to the increase in fare rates when the demand for rides is higher than the available drivers. But commuters have complained some TNCs reportedly jack up their fares by up to 500 percent especially during peak hours. “That is one of the important and significant issues that we are trying to address: the pricing scheme involving TNVs.

Source: Manila Bulletin October 11, 2016 04:30 UTC